Festive Company has the following unadjusted account balances on December 31, 2016. The pre-adjustment balance of Allowance for Doubtful Accounts is $6,400 debit. This company uses the following aging of accounts receivable to estimate its bad debts.

Accounts Age	Balance	Estimated Uncollectible %
Current (not yet due)	$384,000	1.0%
1-30 past due	$256,000	3.5%
31-60 past due	$ 64,000	12.0%
61-90 past due	$ 26,000	42.0%
Over 90 days past due	$ 12,800	67.0%
Total	$742,800

The Net Realizable Value of Accounts Receivable reported on the year-end Balance Sheet will be:

A)

$783,850

B)

$709,224

C)

$702,824

D)

$696,424

Answer rating: 100% (QA)

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